Guo Shuqing: By the end of last year, the market share of the five major banks had declined.

Institutionally speaking, we now have 2588 banking institutions. By the end of 2018, the number of banking institutions is not very small, and the market share of the five major banks has actually declined. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, responded to reportersquestions in the second ministerial corridor.

Guo Shuqing said, Recently, the State Office of the Central Government jointly issued a notice to further implement support for private enterprises, especially small and micro enterprises, to solve the problem of financing difficulty and expensive financing. In this respect, I think it is also closely related to the structural reform of our financial supply side. We should make some adjustments in the institutional system, market system and product system of the financial industry.

Guo Shuqing said that in the past decade, the market share of big banks in the banking industry has dropped from more than 50% to about 28%, so the proportion of big banks has actually declined. Small and medium-sized banks serve more small and micro enterprises. The number of these banks has increased, and private banks have also increased. At the same time, in accordance with the decision-making and deployment of the Party Central Committee and the State Council, large banks have generally set up inclusive financial departments, which specialize in lending to small and micro enterprises and providing financial services to them.

Guo Shuqing said frankly that it is a systematic project to solve the problems of small and micro enterprises, including medium-sized enterprises and private enterprises, which are difficult to get loans and expensive to get loans. A huge challenge for banks is to get enough information. The money you lend to the right enterprise, which can operate normally, is not investment speculation, speculation speculation. The principal and interest of the loan should be recovered. In this respect, we have done a lot of exploration in the banking industry.